We Can't Afford The Fossil Fuel Industry

We're constantly told that we can't afford to enact the bold climate solutions necessary to make the switch to 100 percent renewable energy. But, the people who say such things often leave out the hefty price that taxpayers are already paying to cover the cost of dirty fossil fuel energy.

In addition to the twenty-or-so billion dollars that oil and gas companies receive in direct subsidies from the government, they rake in billions more in bailouts in the form of tax write-offs, subsidized clean up costs, and mandated customer fees. Last week alone there were two glaring examples of fossil fuels company bailouts that stuck taxpayers with the bill, even though they never got a vote.

First, utility customers in Ohio learned that they would be stuck paying billions in fees to prop up aging coal and nuclear plants in their state.

Then, Gulf Coast residents learned that BP will be permitted to write off $15.3 billion dollars of the settlement resulting from the 2010 Gulf Oil Spill.

In both cases, the fossil fuel industry benefited from billions of dollars in subsidies on the front end, only to ask for another hand out when their failure to update plants or install appropriate safety mechanisms got them into trouble. And, they are both perfect examples of why people claim that oil and gas are still cheaper than clean energy.

If you never include the external costs or the numerous taxpayer-funded bailouts, it is easy to make fossil fuels appear cheaper than the alternative.

If oil and gas actually had to compete on a level playing field, no one would consider pollution, oil spills, and fracking earthquakes reasonable side effects of energy production.

If we want solar, wind, and other renewable sources to flourish in our nation, all we have to do is stop the massive subsidies that perpetuate our addiction to fossil fuels.

Comments

cccccttttt 6 years 24 weeks ago
#1

What is a the accounting cost of a human life these days?

Companies routinely decide whether its more "cost effecive" to

A. produce an occasionally unsafe product and litigate the law suits.

B. produce a safe product for a higher price and risk reducing sales.

Knowing this, the government needs to make death by pollution

an automatic $500,000,

Each year of cancer or black lung suffering is billed at $100,000.

This is language the company accountants and lawyers understand.

ct

wslifko 6 years 24 weeks ago
#2

Another reason why we need someone who will fight for the people (Bernie) rather than their corporate masters (everyone else including Hillary).

http://www.politifact.com/truth-o-meter/article/2016/apr/01/sorting-out-...

If they want us to believe that corporations do not have an effect on their decision making, get their money out of the race. It's that simple. If not, it's difficult if not impossible to believe them.

2950-10K's picture
2950-10K 6 years 24 weeks ago
#3

Good government would redirect the 20 billion in carbon baron subsides to community solar/wind farms, but then again we don't have a population that votes for good government. Thank you corpse media!

ChicagoMatt 6 years 24 weeks ago
#4

Stop using their product. They don't pull it out of the ground for fun. If every concerned environmentalist lived like the Amish, it would have a great impact than the current method of hypocritically pointing out the evils of a system that they directly support.

Instant-RunOff-... 6 years 24 weeks ago
#5

Germany & California have already failed with renewable energy, two of the wealthiest, so get real, only Nuclear energy is capable of replacing fossil fuels. Wind and solar are only greenwashing for natural gas. Expensive taxpayer subsidized greenwashing.

Nothing will significant will be done about fossil emissions in the west. There is just way too much money in fossil fuels.

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